Palo Alto Networks (PANW) Posts Earnings Beat & Strong Guidance

Palo Alto Networks, Inc. (PANW) just released its latest quarterly financial results, posting non-GAAP earnings of 97 cents per share and revenues of $542 million.

Currently, PANW is a Zacks Rank #3 (Hold), but that could change based on today’s results. The stock is currently up 5.45% to $178.54 per share in after-hours trading shortly after its earnings report was released.

Palo Alto Networks:

Beat earnings estimates. The company posted adjusted earnings of $0.97 per share, crushing the Zacks Consensus Estimate of $0.79.

Beat revenue estimates. The company saw revenue figures of $542.4 million, beating our consensus estimate of $525.4 million. Total revenue was up 28% on a year-over-year basis.

“We delivered a strong fiscal second quarter with total revenue growing 28 percent year over year to $542.4 million as we saw robust new customer acquisition and expansion in existing accounts,” said CEO Mark McLaughlin.

For the fiscal third quarter, PANW expects total revenue in the range of $538 to $548 million and non-GAAP earnings in the range of $0.94 to $0.96. Our current consensus estimates are calling for earnings of 81 cents per share and revenues of $531 million.

Here’s a graph that looks at PANW’s recent earnings performance:

Palo Alto Networks, Inc. Price, Consensus and EPS Surprise

Palo Alto Networks, Inc. Price, Consensus and EPS Surprise | Palo Alto Networks, Inc. Quote

Palo Alto Networks, Inc. offers a network security platform that allows enterprises, service providers, and government entities to secure their networks. The core of its platform is the company's firewall that delivers natively integrated application, user, and content visibility and control through its operating system, hardware, and software architecture.

Check back later for our full analysis on PANW’s earnings report!

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